New UK PM Already Facing Calls to Resign
Summary from the AllSides News Team
UK Prime Minister Liz Truss is facing calls to resign from within her own Conservative Party after reversing on many portions of a new economic plan that called for tax cuts and an energy production plan.
Key Quotes: “I ask you to stand down as Prime Minister as I believe you no longer hold the confidence of the country or the parliamentary party,” a letter from Conservative Member of Parliament Jamie Wallis said. “It is the right thing to do to ensure the stability, security, and prosperity of the people to whom we owe everything.”
For Context: Truss replaced outgoing head of state Boris Johnson just six weeks ago, promising an aggressive economic reform package. Since then, investors have voiced their concern over the British government's ability to meet debt obligations, and Truss announced that she would eliminate portions of her plan. She also dismissed Finance Minister Kwasi Kwarteng. His successor, Jeremy Hunt, led the charge to reverse Truss's tax cut plan.
How The Media Covered It: Some right-rated sources noted that the push for higher fossil fuel production appears to remain intact in the prime minister's agenda. Some left-rated sources focused on how financial markets were "spooked" by the fact that Truss had not provided details on how she would pay for tax cuts and spending increases.
Featured Coverage of this Story
From the Right
British Conservatives Cave On Pro-Growth Economic Agenda, Prime Minister Might Be Ousted
British Prime Minister Liz Truss may be ousted six weeks into her tenure after she and fellow ministers caved on most portions of an aggressive economic reform package.
Truss, who replaced outgoing head of government and fellow Conservative Party member Boris Johnson last month, unveiled a tax cut and energy production plan in the first days of her premiership. After investors concerned about the government’s ability to meet debt obligations jettisoned their assets, Truss announced that she would eliminate portions of her plan and dismissed finance minister Kwasi Kwarteng.
“We need to act now to...
From the Left
UK leader in peril after Treasury chief axes ‘Trussonomics’
The U.K.’s new Treasury chief ripped up the government’s economic plan on Monday, dramatically reversing most of the tax cuts and spending plans that new Prime Minister Liz Truss announced less than a month ago. The move raises more questions about how long the beleaguered British leader can stay in office, though Truss insisted she has no plans to quit.
Chancellor of the Exchequer Jeremy Hunt, said he was scrapping “almost all” of Truss’ tax cuts, along with her flagship energy policy and her promise — repeated just last week — that there will be no public...
From the Center
UK Prime Minister Liz Truss faces serious pressure to resign after failed budget
U.K. Prime Minister Liz Truss is facing calls to resign from within her own Conservative Party just six weeks after entering Downing Street.
Truss and her former Finance Minister Kwasi Kwarteng announced a fiscal package – a so-called mini-budget – on Sept. 23. The measures triggered market turmoil, from a plunging pound to pension panic, and a rare public rebuke by the International Monetary Fund.
Piece by piece, the plans have been tweaked and trashed – including reversing plans to scrap an increase in the corporation tax, axing plans to abolish the top income tax bracket, and shortening...
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